Exploration News

 

Norway Oil Companies Slash Investment Plans

Jun 04, 2020

Norwegian oil and gas investment, a key economic driver, is expected to decline sharply in 2021 after rising less than previously anticipated this year, an industry survey by the national statistics agency (SSB) showed on Thursday.The biggest…

Nigeria Launches Licensing Round for Marginal Oilfields

Jun 02, 2020

Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, the Department of Petroleum Resources (DPR) said on Monday, despite court rulings last week that barred some of the fields from being auctioned.Marginal…

National Oil Companies to Cut Over a Quarter of Exploration Budgets

May 20, 2020

National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says energy intelligence group Wood Mackenzie.Woodmac said Wednesday its analysis was based on announcements and tracking well plans of 11 top spending NOC explorers…

Angola's Oil Exploration Evaporates

May 20, 2020

The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.The consequences could be grave for a poor country that relies…

Tough Time for Exploration, But There's Still a Business Case For It

May 20, 2020

Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays.  The confidence carried over into 2020 but has evaporated in the face of the Covid-19 crisis and the collapse in oil prices…

Petronas Farms Out Part of Suriname Offshore Block to Exxon

May 19, 2020

Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil.The offshore block, known as Block 52, is located north of the coast of Paramaribo, Suriname’s capital city…

Qatar Petroleum Farms into Total's Offshore Blocks in Mexico

May 07, 2020

Qatar's state-owned oil and gas company Qatar Petroleum has signed three farm-in agreements to acquire about 30% of Total’s participating interest in blocks 15, 33 and 34 located in the Campeche Basin, offshore Mexico.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs…

Nigeria: No 'Substantive' Oilfield Bid Round Until Prices Recover

May 06, 2020

Nigeria will not hold 'substantive' oilfield bid rounds until prices recover, the head of the state oil company said on Tuesday in a web conference.Mele Kyari, group managing director of the Nigerian National Petroleum Corporation, also said…

No Oil at Eni's Ehecatl Prospect Offshore Mexico

May 05, 2020

Eni has not found oil at its Ehecatl-1 exploration well in Block 7, offshore Mexico, Cairn, a partner in the project has said.Cairn said on Tuesday operations had been completed at the Eni-operated Ehecatl-1 exploration well in the Sureste Basin…

Equatorial Guinea: Oil Firms Get Extension to Exploration Plans

May 04, 2020

Equatorial Guinea has granted oil and gas companies two-year extensions on their exploration programs, a statement from the hydrocarbons minister said.The move is an effort to keep investments flowing into the nation's energy industry amid a…

Neptune Drills Duster in Norwegian Sea

Apr 24, 2020

Oil and gas company Neptune Energy has failed to find hydrocarbons at its offshore exploration well 6507/8-10 S in the Norwegian Sea.The well - known as the Grind prospect - was drilled about 10 kilometers east of the Heidrun field in the Norwegian Sea and 215 kilometers west of Brønnøysund…

Equinor Exploration Manager Steps Down to Take New Role

Apr 22, 2020

Norwegian oil and gas company Equinor has informed that its executive vice president Exploration Tim Dodson will step down as executive vice president Exploration, a role he held since 2011.In what Equinor said was a planned change to the leadership of Exploration…

Down But Not Out – High Impact Drilling to Fall up to 35% in 2020

Apr 21, 2020

Following the double whammy of the collapse in the oil price and the COVID-19 pandemic, exploration plans are being redrawn and the well count is expected to drop by as much as 35% on 2019 levels.At the start of the year, the high impact well…

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

Apr 15, 2020

Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the…

OMV Strikes Oil and Gas Offshore New Zealand

Apr 14, 2020

Austrian energy firm OMV has said it has struck oil and gas in the Taranaki Basin offshore New Zealand.  OMV, as the operator of the Petroleum Exploration Permit (PEP) 60093, started drilling at the Toutoiwai-1 well in early March 2020.The oil…

Current News

OPT to Deliver AI-Ready Wave Energy PowerBuoy to Middle East

OPT to Deliver AI-Ready Wave E

Ramco Hooks Long-Term Pipe Servicing Contract with Equinor

Ramco Hooks Long-Term Pipe Ser

Senegal President Says Oil Contracts Will be Renegotiated

Senegal President Says Oil Con

Egypt Considering Adding New Regasification Vessel in Ain Sokhna

Egypt Considering Adding New R

Subscribe for OE Digital E‑News

Offshore Engineer Magazine